Qtum is a decentralized, open-source, public, high-speed, green, scalable blockchain network that utilizes a Proof-of-Stake (PoS) consensus mechanism to secure its infrastructure. It leverages UTXO security and supports Ethereum-based dApps through the Ethereum Virtual Machine (EVM) compatibility feature.
The Qtum blockchain operates with a decentralized governance protocol (DGP) to enable complete democratizing decision-making, leveraging smart contracts’ power. This key feature allows users to change the network’s block size without implementing a blockchain hard fork.
Qtum operates on censorship-resistance principles and offers a trustless and permissionless infrastructure for deploying dApps. Its use of PoS consensus makes the blockchain environment-friendly to work. It provides a low barrier of entry for validators to join and contribute towards securing the network and validating transactions.
QTUM is the native token of the Qtum blockchain and is used to pay gas fees when executing smart contracts, interacting with dApps, or performing transactions. It is also used for staking to contribute to the PoS consensus mechanism, validate transactions, and produce new blocks and is distributed as a reward to validator nodes.
